Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. brumfield issued 8 000 ordinary shares for $28 per

Brumfield issued 8 000 ordinary shares for $28 per share. In addition to the increase...

50.1K

Verified Solution

Question

Accounting

image

Brumfield issued 8 000 ordinary shares for $28 per share. In addition to the increase in cash, what effect does this transaction have on Brumfield's accounting equation? Ordinary shares increases $8 000 and retained earnings increases $168 000 Ordinary shares decreases $224 000 and contributed capital increases $224 000 Ordinary shares increases $224 000 Ordinary shares increases $175 000 and the gain on share issuance increases $175 000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

This question 1 point s possible Obtain an estimate for the following computation by rounding...

Basic Math
Q

Being an elite training camp organizer for Elite football teams winter camps, having state of the...

Operations Management
Q

Consider the following research question: Are business professors, education professors, or psychology professors more popular among doctoral...

Psychology
Q

The bulb of the open-end manometer shown above contains a gas. True statements about this...

Biology
Q

Solve for y.5y-4=-yIf there is more than one solution, separate them with commas.If there is...

Basic Math
Q

a statement for cash flow usually does not include which of the following? net...

Accounting
Q

Pachel Corporation reports the following information pertaining to its accounts receivable: The company's credit department...

Accounting
Q

Accounting 1A Chapter 6 - Inventories Inventory Calculations Practice Problems 1 There are 80 units...

Accounting
Q

Required informntion (The forlowing information applies to the questions displayed below] Use the following information:...

Accounting
Q

Floating Airplanes has completed all of its journal entries and adjusting entries for the month...

Accounting
Q

The contribution format income statement for Westex, Inc., for its most recent period is given...

Accounting
Q

Use implicit differentiation to find dy dx e xy = 4y dy dx 11

Accounting